Allostery Investments LP Acquires New Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Allostery Investments LP bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 65,000 shares of the biopharmaceutical company's stock, valued at approximately $3,058,000. Cytokinetics makes up about 3.2% of Allostery Investments LP's portfolio, making the stock its 9th largest holding. Allostery Investments LP owned about 0.06% of Cytokinetics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth $29,000. AlphaQuest LLC boosted its position in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp grew its stake in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares during the last quarter.

Insider Transactions at Cytokinetics

In other news, EVP Andrew Callos sold 4,002 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.68, for a total value of $146,793.36. Following the transaction, the executive vice president now directly owns 60,687 shares of the company's stock, valued at $2,225,999.16. The trade was a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company's stock, valued at $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,362 shares of company stock valued at $3,899,118. 2.70% of the stock is owned by insiders.

Cytokinetics Price Performance

NASDAQ:CYTK traded down $2.63 during mid-day trading on Tuesday, hitting $34.05. The company's stock had a trading volume of 2,919,271 shares, compared to its average volume of 1,652,610. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -6.33 and a beta of 0.81. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $68.44. The stock has a fifty day moving average of $41.15 and a 200-day moving average of $46.50.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, beating the consensus estimate of ($1.41) by $0.05. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CYTK shares. UBS Group dropped their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective for the company. Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th. Barclays initiated coverage on Cytokinetics in a research note on Thursday, April 24th. They set an "overweight" rating and a $55.00 price target for the company. Finally, JMP Securities restated a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.88.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.